Iowa Admin. Code r. 781-9.13 - Reporting of unused gift certificate and gift card balances
(1) Except as provided in subrules 9.13(2)
and 9.13(3), an unused balance on a gift certificate or gift card is reportable
five years from the date of issuance of the gift certificate or gift card or
last usage, whichever is later.
(2)
An unused balance on a gift certificate or gift card that is not redeemable for
cash, which was issued prior to July 2, 2014, is reportable five years from the
date of issuance of the gift certificate or gift card or last usage, whichever
is later.
(3) An unused balance on a
gift certificate or gift card that is not redeemable for cash, which was issued
after July 1, 2014, and is not subject to expiration or service fees, is not
subject to reporting and delivery under Iowa Code chapter 556.
(4) An unused balance on a gift certificate
or gift card that is not redeemable for cash, which was issued after July 1,
2014, and is subject to expiration or service fees, is subject to reporting and
delivery under Iowa Code chapter 556. A gift certificate or gift card is
subject to expiration or service fees if the face of the gift certificate or
gift card so indicates, regardless of whether the issuer of the gift
certificate or gift card waives such expiration or fees.
This rule is intended to implement Iowa Code section 556.9.
Notes
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(1) Except as provided in subrules 9.13(2) and 9.13(3), an unused balance on a gift certificate is reportable five years from the date of issuance of the gift certificate or last usage, whichever is later.
(2) An unused balance on a gift certificate that is not redeemable for cash, which was issued prior to July 2, 2014, is reportable five years from the date of issuance of the gift certificate or last usage, whichever is later.
(3) An unused balance on a gift certificate that is not redeemable for cash, which was issued after July 1, 2014, and is not subject to expiration or service fees, is not subject to reporting and delivery under Iowa Code chapter 556.
This rule is intended to implement Iowa Code section 556.9.